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Message: Re: TPL Bankruptcy - 20 Largest "UNSECURED" Creditors ...

Just wanted to make the distinction that these were the largest "unsecured" claims. I think I glossed over this in one or two of my prior posts.

It's curious because TPL filed they owe somewhere between $50Mil - 100Mil, and this unsecured Creditors list only totals up to approx $25 Mil, I highly doubt the unlisted "smaller" unsecured creditors add up to another $25Mil, so .. how much is the Secured debt ? who is the "Secured" debt to ? what Asset(s) are secured ? and how could the Assets that secured those debts now only be worth "$500K to $1M" ??

*[the check box choices on the BK form are $10 - $50 Mil and then $50-$100Mil, so you can see that some of this actual debt amount discussion can be unexact simply due to the limited availability in the choices for the boxes to be checked] http://photos.imageevent.com/banos/itc32913complaintexhibits/Ex%20G.pdf

I note that PTSC is listed among this Unsecured list, but my recollection is that this $1,042,500 that is owed to us is specifically secured against future MMP license collections; there was an 8K on that.

I also note that most law firms taking on labor intensive Award cases usually have leins specifically written into their retainer agreements against any potential Awards, and yet, Agility is, and other Firms too, are listed among the "unsecured" Creditors list (at least this portion of their billing is).

Perhaps it's the "contract" aspect that allows these to remain "unsecured" ?

Anyone have thoughts on this ?

Anyone able to trace any business history of "FKA technology Partners Limited" ? This is another company TPL does/did business as, and who is also filing BK. I do not see them listed with the Ca Sec of State, yet they are/were a Calif Corp.

First Meeting of Creditors with 341(a) meeting to be held on 04/24/2013 at 09:30 AM at San Jose Room 268. Proof of Claim due by 07/23/2013.
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